06-08-2020, 09:05 AM
(06-06-2020, 12:24 PM)GMDino Wrote: Yep. Instead of losing 12 million we only lost 9.
Now things opening up have helped. I'm reading that there are more permanent layoffs so far too.
And the original unemployment rate was "miscalculated".
https://www.stamfordadvocate.com/business/article/The-May-jobs-report-had-misclassification-error-15320999.php
So the Author of this article, Ms Heather Long of the Washington Post was on CNBC this morning. The 'absent but employed' standard was not used in March or April, but the Bureau applied it to May. Which is why the miscalculation addendum was added at the bottom. If applied to March and April, the unemployment numbers would have been much larger those months. IE...April unemployment could have been 18 or 19 percent instead. We actually gained 2.5 million jobs, according to the author, to be at 16 percent, not 13 percent as reported. But the 16 percent compares to the 18 or 19 percent, if April was calculated like May was.
![[Image: 4CV0TeR.png]](https://i.imgur.com/4CV0TeR.png)